HIG Capital has acquired a 29,000sqm office complex in Lyon, France for an undisclosed sum.

The global private equity investment firm said one of its affiliates has recently completed the acquisition of the office complex expected to be delivered in March 2021.

HIG said the asset has already been 70% pre-let to a French corporate tenant on a long-term basis.

Riccardo Dallolio, managing director and head of HIG Realty Partners Europe, said: “Our focus in France is on high delivering quality assets with strong tenants that have the potential of becoming highly liquid institutional product as the result of the envisaged value-add initiatives.”

Mihai Gavriloiu, Principal at HIG Europe Realty Partners in London, said: “France represents an important part of our European strategy and we continue to seek additional small and mid-cap, value-add, investment opportunities to increase HIG’s presence in this market.

“Lyon, the second economic centre after Paris, currently has very strong growth prospects which will benefit this project.”